Coronado Biosciences Files to Become a Public Reporting Company

PR Newswire

NEW YORK, July 18, 2011

NEW YORK, July 18, 2011 /PRNewswire/ -- Coronado Biosciences, Inc. (the "Company"), a biopharmaceutical company focused on the development of novel immunotherapy agents for the treatment of autoimmune diseases and cancer, today announced that it filed a registration statement on Form 10 with the Securities and Exchange Commission (SEC) under the Securities Exchange Act of 1934 for the purpose of becoming a reporting company. The filing is the first step in a process to achieve the Company's goal of entering the public markets.

Form 10 registration statement is posted on the SEC's website at www.sec.gov under the name of Coronado Biosciences and is also available on the Company's website at www.coronadobiosciences.com.

About Coronado Biosciences

Coronado Biosciences is engaged in the development of novel immunotherapy biologic agents. The Company's two principal pharmaceutical product candidates in clinical development are: CNDO-201, a biologic for the treatment of autoimmune diseases, such as Crohn's disease, ulcerative colitis and multiple sclerosis; and CNDO-109, a biologic that activates natural killer cells, for the treatment of acute myeloid leukemia and solid tumors.

The Company recently completed a $25 million round of financing and is using the proceeds to advance its pipeline, including funding Phase II double-blind, placebo controlled trial of CNDO-201 for the treatment of Crohn's Disease scheduled for initiation in early 2012 and a Phase I/II dose escalation and expansion trial of CNDO-109 for the treatment of relapsed Acute Myeloid Leukemia (AML) planned for 2012. Each of these drugs is a novel therapy that has achieved clinical proof-of-concept in indications with unmet medical needs.

Forward-Looking Statements

This press release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements include, but are not limited to, any statements relating to the Company's product development programs and any other statements that are not historical facts. Forward-looking statements are based on management's current expectations and are subject to risks and uncertainties that could negatively affect our business, operating results, financial condition and stock price. Factors that could cause actual results to differ materially from those currently anticipated risks relating to the results of research and development activities, uncertainties relating to preclinical and clinical testing, financing and strategic agreements and relationships, the early stage of products under development, our need for substantial additional funds, government regulation, patent and intellectual property matters; and competition, as well as other risks described in our SEC filings. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions or circumstances on which any such statement is based, except as required by law.